Burton Weisbrod American economist Date of Birth: 13.02.1931 Country: USA

Biography of Burton Weisbrod

Burton Weisbrod, an American economist, is widely recognized as the founder of the "option value" theory and advanced methods of cost-effectiveness analysis in the fields of education, healthcare, poverty, and non-profit organizations. Over the course of 50 years, Weisbrod has published 16 books and more than 200 scholarly articles. Currently, he holds the position of professor at Northwestern University.

Born on February 13, 1931, in Chicago, Weisbrod obtained his bachelor's degree from the University of Illinois and earned a PhD in economics from Northwestern University. From 1990 to 1995, Weisbrod served as the director of the Center for Urban Affairs and Policy Research at Northwestern University. Prior to this, he spent 26 years as a professor at the University of Wisconsin–Madison, where he held various positions including director of the Center for Health Economics and Law, and director of the National Program for Mental Health Training.

In 1999, Weisbrod joined the National Advisory Research Resources Council of the National Institutes of Health, invited by Donna Shalala, the Secretary of Health and Human Services. He served in this role until 2003. Additionally, from 2000 to 2005, Weisbrod served on the Social Science Research Council, overseeing the development of the charitable and non-profit sector. In 2002, he became involved with the National Academy of Sciences, where he supervised the analysis of non-market activities. In 2005, Weisbrod was appointed to one of the advisory divisions of the United States Internal Revenue Service.

Throughout his academic career, Weisbrod has held positions at various prestigious institutions including Washington University in St. Louis, Carleton College in Minnesota, Harvard University John F. Kennedy School of Government, Yale University, Princeton University, University of California Berkeley and San Diego, Brandeis University, State University of New York, Australian National University, and Universidad Autonoma de Madrid.

Weisbrod's research on the use of cost-effectiveness analysis in healthcare began several decades ago. In the 1970s, he led two innovative projects that brought together economists, medical professionals, and sociologists. His time working in the Caribbean solidified his belief in the clear link between the development of the healthcare industry, labor productivity, and overall economic growth of a country. The data he gathered during this time proved invaluable to numerous international medical organizations.